In addition to the controllable marketing mix factors, there
are uncontrollable factors called environmental forces. The external influences
are the forces that affect the characteristics of the marketing strategies to
which marketers adapt. Among others they include: regulatory, economic,
social, political environmental, competitive, and technological.
• Regulatory: This refers to laws and legality (governmental
policies) that may affect the way marketing can be characterized. For example,
government restriction on the importation of a particular product might hinder
the marketers playing in that particular field.
• Economic. Various trends in the economic business cycle,
including inflation, recessions, deficit, or income level. Each of these
factors can have a direct impact on marketing which may have to be re-evaluated
and overhauled as a result.
• Social: The social forces refer to the structure and
dynamics of individuals and groups and their behaviors, beliefs, thought
patterns and lifestyles, friendships, etc. When consumers change their needs
and wants, this directly affects marketing strategies.
• Political: The socio-economic conditions are closely
related to the state of the governmental institutions. Depending on the
governmental impact on bureaucracy, corruption, freedom of speech and other
limitations (or opportunities), the marketing strategies will adapt to the
political conditions.
• Competitive: Competition refers to the numbers of similar
competitive product brands. A new competitor entering the market will directly
affect the marketing strategies of the incumbent companies. Firms offering
similar services or products often achieve differentiation through marketing,
positioning and branding.
• Technological: The marketing strategies often adapt to the
pace of development of the consumer demand and exponential technological
progression.
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